Vanguard Group Inc. Trims Stock Holdings in Primerica, Inc. $PRI

Vanguard Group Inc. decreased its holdings in shares of Primerica, Inc. (NYSE:PRI) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,378,192 shares of the financial services provider’s stock after selling 82,876 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Primerica worth $937,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of Primerica in the third quarter valued at $51,004,000. First Trust Advisors LP boosted its stake in Primerica by 35.9% in the 2nd quarter. First Trust Advisors LP now owns 437,925 shares of the financial services provider’s stock worth $119,847,000 after purchasing an additional 115,754 shares during the period. Alps Advisors Inc. purchased a new position in Primerica during the 3rd quarter valued at about $20,524,000. Envestnet Asset Management Inc. increased its position in shares of Primerica by 30.5% during the second quarter. Envestnet Asset Management Inc. now owns 133,692 shares of the financial services provider’s stock valued at $36,587,000 after buying an additional 31,278 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Primerica by 21.7% in the second quarter. Qube Research & Technologies Ltd now owns 171,172 shares of the financial services provider’s stock worth $46,845,000 after buying an additional 30,533 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Primerica Price Performance

Shares of NYSE:PRI opened at $260.73 on Monday. The company’s fifty day moving average price is $261.08 and its 200-day moving average price is $263.37. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 11.37 and a beta of 0.91. Primerica, Inc. has a one year low of $230.09 and a one year high of $296.00.

Primerica (NYSE:PRI) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.69 by $0.44. The company had revenue of $853.51 million during the quarter, compared to the consensus estimate of $839.65 million. Primerica had a net margin of 22.82% and a return on equity of 32.30%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.03 EPS. As a group, equities research analysts expect that Primerica, Inc. will post 20.6 EPS for the current year.

Primerica Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, February 23rd. This is an increase from Primerica’s previous quarterly dividend of $1.04. Primerica’s dividend payout ratio (DPR) is currently 18.14%.

Primerica announced that its board has authorized a stock repurchase program on Wednesday, November 19th that allows the company to repurchase $475.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research raised shares of Primerica from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods reduced their price target on shares of Primerica from $320.00 to $315.00 and set a “market perform” rating for the company in a research report on Tuesday, November 11th. Morgan Stanley set a $292.00 price target on shares of Primerica in a report on Monday, December 15th. Weiss Ratings raised Primerica from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Primerica in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Primerica has an average rating of “Moderate Buy” and an average target price of $300.00.

Insider Activity

In other Primerica news, CEO Glenn J. Williams sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $256.41, for a total transaction of $641,025.00. Following the transaction, the chief executive officer directly owned 27,392 shares in the company, valued at $7,023,582.72. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel M. Babbit sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $255.00, for a total transaction of $178,500.00. Following the completion of the sale, the director owned 8,400 shares of the company’s stock, valued at approximately $2,142,000. The trade was a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by corporate insiders.

Primerica Profile

Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.

In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.